Vintage office inventory poised for upgrades

• In early 2018, throughout the Northern and Central New Jersey office market, nearly 38.0 million square feet of direct and sublet space was marketed for lease.
• Buildings constructed since 2010 comprised less than 1.0 percent of the available space, as office occupiers gravitated towards newer product.
• An empty construction pipeline will challenge tenants seeking modern work environments prompting owners of vintage inventory to invest in improvements and upgrades that fulfill tenant requirements.

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